Potomac Capital Management Inc. Buys New Position in Allot Ltd. $ALLT

Potomac Capital Management Inc. bought a new stake in Allot Ltd. (NASDAQ:ALLT) in the fourth quarter, HoldingsChannel reports. The fund bought 354,288 shares of the communications equipment provider’s stock, valued at approximately $3,483,000. Allot accounts for 2.8% of Potomac Capital Management Inc.’s portfolio, making the stock its 9th largest position.

A number of other large investors have also recently made changes to their positions in ALLT. Quarry LP acquired a new stake in shares of Allot in the 3rd quarter valued at about $37,000. State of Wyoming acquired a new stake in shares of Allot in the 4th quarter valued at about $66,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Allot in the 4th quarter valued at about $148,000. Advisory Alpha LLC acquired a new stake in shares of Allot in the 4th quarter valued at about $153,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Allot in the 2nd quarter valued at about $156,000. 51.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALLT shares. Needham & Company LLC upped their target price on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Allot in a research note on Wednesday, May 13th. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, TD Cowen set a $11.00 price objective on Allot in a research note on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.63.

Insider Buying and Selling at Allot

In other news, insider Mark Shteiman sold 6,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $7.58, for a total transaction of $45,480.00. Following the completion of the transaction, the insider directly owned 214,000 shares of the company’s stock, valued at approximately $1,622,120. This represents a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Boaz Grossman sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $7.37, for a total value of $36,850.00. Following the transaction, the senior vice president directly owned 192,000 shares of the company’s stock, valued at approximately $1,415,040. This trade represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,556 shares of company stock valued at $359,464 in the last ninety days. Insiders own 3.40% of the company’s stock.

Allot Stock Down 4.0%

ALLT opened at $7.21 on Wednesday. The business has a 50 day moving average price of $7.38 and a two-hundred day moving average price of $8.51. The company has a market cap of $350.77 million, a PE ratio of 55.47 and a beta of 1.48. Allot Ltd. has a 52 week low of $6.12 and a 52 week high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. The firm had revenue of $26.43 million during the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%. As a group, sell-side analysts expect that Allot Ltd. will post 0.21 EPS for the current fiscal year.

Allot Company Profile

Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.

Allot’s product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.